HUD Building Not Rent Stabilized

Tenant asked the DHCR for a ruling that he was rent stabilized. The DRA ruled against tenant, who appealed and lost. Construction of the building was completed after Jan. 1, 1974. Rents were restricted under the U.S. Treasury Department's Low Income Housing Tax Credit Program under a regulatory agreement with the N.Y. State Housing Finance Agency (HFA). Rents also were regulated under Section 236 of the National Housing Act under a use agreement with HUD. So the building was exempt from rent stabilization for as long as it remained in compliance with the HFA and HUD agreements signed in 2004.

2930 West 30th Street: DHCR Adm. Rev. Docket No. YI210030RT (10/14/10) [2-pg. doc.]